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Here's Why Meredith Corporation Stock Fell Today

TheMotleyFool

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Here's Why Meredith Corporation Stock Fell Today

Shares of media company Meredith Corporation (NYSE: MDP) fell on Thursday, after it reported results for the third quarter of fiscal 2020. As of 1:30 p.m. EDT, the stock was down 9% for the day.

While the quarter started in line with management's expectations, advertising revenue fell in late March due to the COVID-19 pandemic. The disappointing quarter sent Meredith Corporation stock to fresh 52-week lows: